| Export Credit Insurance (ECI) is a special export-promotion policy established by a government in order to guarantee the remittance collection of export enterprises. Now it obtains more and more attention and support. The ECI model is the system of ECI. There are different model choices of ECI in different countries because of their different economic stages and different trade systems. That is to say, the ECI model is determined by the orientation of ECI, and reflects the development of ECI on the other side.Since its opening in 1988, the ECI has been developed in China for 18 years. It has experienced there stages. In the first stage, the ECI was covered by a state-owned commercial insurance company, In the second stage, it was covered by a state-owned commercial insurance company and the import and export bank at the same time, In the third one, the ECI is covered by a policy insurance company only. Today, China's ECI is facing some problems under the third stage, that is the need shortage of ECI because of the high rate and the lack of consciousness for insurance, the supply insufficiency for inadequate of risk funds and the single channel of information. To go deeply, we can find that the lack of laws and the half-baked regulation system is also blocking the development of China's ECI. Is there a better model which can resolve these problems , and forward the export trade developed more quickly and healthily?ECI has developed very mature in the world and has played an active role in promoting foreign trade in many countries. Today, there are four main kinds of ECI model. They are the model of operating by the government directly, the model of operating by a state-owned company, the model of operating by a company holded by the government and the model of operating by a private company that consigned by the government. After analyzed the different modes of England, Japan, American and so many other countries, we find some common among these countries. Firstly, the ECI models are all established on the situation of the country, Secondly, the support from government are the core power of all these models; Thirdly, the ECI institutions which are supported by the government are covering the insurance that not accepted by commercial companies only; Forth, directly regulation are the guarantee for the health development of ECI; The last, the canonical laws is the yardstick for the development of ECI in these countries.At present, all the ECI in China are considered as policy insurance, and covered by a state-owned policy insurance company—sinosure. During these years, the environment of China's ECI has changed, such as the export trade appears to be some new trends, the new change for international trade become more complicate, the policies for export trade should be obey the WTO rules, and so on. Through the analysis on the export commodities, destinations, time limit, we concluded that there are different risks among different situations, and some of them may be possible to be commercial operating. So the character of ECI has not been incarnated completely, Then on the basis of China's situation, the writer designed a new model for the future. In the short term, we should plot out the commercial ECI and policy ECI, operating by sinosure only. In the middle-term, sinosure will become a ECI group which will have a commercial subsidiary and a policy subsidiary, and still the sole institute to operate ECI. In the long-term, the policy ECI will be covered by sinosure only, but the commercial ECI will be allowed to be covered by a lot of insurance companies.In order to implement these goals, China's government should establish a steady mechanism of compensating risk funds, make a special ECI law, consummate government regulation, and promote the found of agency. To itself, sinosure should do more on insurance innovation, on risk controlling system, and on cooperating with other financial institutions. Thus it can become lager and stronger before China's ECI reach the third model stage. |
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